Gabelli Reporting Persons Exit DallasNews (DALN) at $16.50 Per Share

Rhea-AI Filing Summary

DallasNews Corp (DALN) Schedule 13D/A discloses that a group of related Gabelli reporting persons have, as a result of the completion of the merger with Hearst, ceased to beneficially own any Series A common stock of the issuer. The filing lists the Reporting Persons (including GGCP, GAMCO, Gabelli Funds, Teton Advisors, Associated Capital Group and Mario J. Gabelli) and their organizational details. The registrants state they filed the long-form Schedule 13D for compliance though they may have qualified for a short form. The filing shows detailed sell transactions on September 24, 2025 at $16.50 per share by multiple Gabelli funds and advisers, and states the group ceased to be beneficial owners of 5% or more on that date.

Positive

• Clear disclosure that the Gabelli group ceased to beneficially own any Series A shares following the merger with Hearst
• Detailed transaction listing showing specific funds, share quantities and a single price point of $16.50 on 9/24/2025

Negative

• Reported cessation of a >5% beneficial ownership stake by the Gabelli group as of 9/24/2025, altering the issuer's shareholder base
• No operational or post-merger commentary provided about implications for the issuer beyond ownership changes

Insights

Securities Analyst

TL;DR Gabelli-related reporting persons sold out of DALN due to the Hearst merger, eliminating their >5% stake and reporting multiple disposals at $16.50.

The Schedule 13D/A is a compliance-focused disclosure showing the Gabelli group no longer beneficially owns Series A shares after the merger closing. The detailed transaction list quantifies dispositions executed on 9/24/2025 across several funds and advisers at $16.50 per share. This removal of a >5% holder is material for shareholder structure and disclosure, but the filing contains no forward-looking commentary or operational impacts on the issuer.

Corporate Governance Expert

TL;DR The filing documents a change in ownership concentration: a formerly large, affiliated investor group exited following a corporate transaction.

The document appropriately uses the long-form Schedule 13D to record cessation of ownership and provides identifying information for each reporting person and covered funds. It also lists specific share sales and the statement that the group no longer holds 5% or more of the issuer. The disclosure improves transparency around beneficial ownership post-merger but does not include any litigation, reserve or other governance developments.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

DallasNews Corp

(Name of Issuer)

Series A Common Stock, $0.01 par value

(Title of Class of Securities)

235050101

(CUSIP Number)

DAVID GOLDMAN
191 MASON STREET,
GREENWICH, CT, 06830
914-921-5000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/24/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

GAMCO INVESTORS, INC. ET AL

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

GABELLI FUNDS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

GAMCO Asset Management Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

GABELLI & Co INVESTMENT ADVISERS, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

Teton Advisors, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

GGCP, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

WYOMING

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

Associated Capital Group, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO, HC

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

GABELLI MARIO J

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Series A Common Stock, $0.01 par value
(b)	Name of Issuer: DallasNews Corp
(c)	Address of Issuer's Principal Executive Offices: 1954 COMMERCE STREET, 1954 COMMERCE STREET, DALLAS, TEXAS , 75201.
Item 2.	Identity and Background
(a)	This statement is being filed by one or more of the following persons: GGCP, Inc. (GGCP), GGCP Holdings LLC (GGCP Holdings), GAMCO Investors, Inc. (GBL), Associated Capital Group, Inc. (AC), Gabelli Funds, LLC (Gabelli Funds), GAMCO Asset Management Inc. (GAMCO), Teton Advisors, LLC (Teton Advisors), Keeley-Teton Advisors, LLC (Keeley-Teton), Gabelli & Company Investment Advisers, Inc. (GCIA), Morgan Group Holding Co., (MGH), G.research, LLC (G.research), MJG Associates, Inc. (MJG Associates), Gabelli Securities International (Bermuda) Limited (GSIL), Gabelli Foundation, Inc. (Foundation), Mario Gabelli, LICT and CIBL. Those of the foregoing persons signing this Schedule 13D are hereinafter referred to as the Reporting Persons.
(b)	GAMCO is a New York corporation and GBL and MGH are Delaware corporations, each having its principal business office at One Corporate Center, Rye, New York 10580. GGCP is a Wyoming corporation and AC and GCIA are Delaware corporations each having its principal business office 191 Mason Street, Greenwich, CT 06830. GGCP Holdings is a Delaware limited liability corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. G.research is a Delaware limited liability company having its principal officers at One Corporate Center, Rye, New York 10580. Gabelli Funds is a New York limited liability company having its principal business office at One Corporate Center, Rye, New York 10580. Teton Advisors is a Delaware limited liability company having its principal place of business at 189 Mason Street, Greenwich, CT 06830. Keeley-Teton Advisors is a Delaware limited liability company having its principal place of business at 141 W. Jackson Blvd., Chicago, IL 60604. MJG Associates is a Connecticut corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. The Foundation is a Nevada corporation having its principal offices at 165 West Liberty Street, Reno, Nevada 89501. LICT is a Delaware corporation having its principal place of business as 401 Theodore Fremd Avenue, Rye, New York 10580. CIBL, Inc. is a Delaware corporation having its principal place of business as 165 West Liberty Street, Suite 220, Reno, NV 89501.
(c)	GGCP makes investments for its own account and is the manager and a member of GGCP Holdings which is the controlling shareholder of GBL and AC. GBL, a public company whose stock is quoted on the OTCQX platform, is the parent company for a variety of companies engaged in the securities business, including certain of those named below. AC, a public company listed on the New York Stock Exchange, is the parent company for a variety of companies engaged in the securities business, including certain of those listed below. GAMCO, a wholly-owned subsidiary of GBL, is an investment adviser registered under the Investment Advisers Act of 1940, as amended (Advisers Act). GAMCO is an investment manager providing discretionary managed account services for employee benefit plans, private investors, endowments, foundations and others. GCIA, a wholly owned subsidiary of AC, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts. As a part of its business, GCIA may purchase or sell securities for its own account. GCIA or its relying advisers, act as a general partner or investment manager of a number of funds or partnerships, including Gabelli Associates Fund, L.P., Gabelli Associates Fund II, L.P., Gabelli Associates Limited, Gabelli Associates Limited II E, Gabelli Intermediate Credit Fund L.P., GAMA Select Plus Master Fund, Ltd., GAMCO Medical Opportunities L.P., and Gabelli Multimedia Partners, L.P. G.research is a wholly owned subsidiary of MGH. G.research, is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (1934 Act), which may as a part of its business purchase and sell securities for its own account. Gabelli Funds, a wholly owned subsidiary of GBL, is a limited liability company. Gabelli Funds is an investment adviser registered under the Advisers Act which provides advisory services for The Gabelli Equity Trust Inc., The Gabelli Asset Fund, The Gabelli Growth Fund, The Gabelli Convertible and Income Securities Fund Inc., The Gabelli Value 25 Fund Inc., The Gabelli Small Cap Growth Fund, The Gabelli Equity Income Fund, The Gabelli ABC Fund, The Gabelli Global Content & Connectivity Fund, The Gabelli Gold Fund, Inc., The Gabelli Multimedia Trust Inc., The Gabelli Global Rising Income & Dividend Fund, The Gabelli Capital Asset Fund, The Gabelli International Growth Fund, Inc., The Gabelli Global Growth Fund, The Gabelli Utility Trust, The Gabelli Utilities Fund, The Gabelli Dividend Growth Fund, The Gabelli Focused Growth and Income Fund, The Comstock Capital Value Fund, The Gabelli Dividend and Income Trust, The Gabelli Global Utility & Income Trust, The GAMCO Global Gold, Natural Resources, & Income Trust, The GAMCO Natural Resources, Gold & Income Trust, The GDL Fund, Gabelli Enterprise Mergers & Acquisitions Fund, The Gabelli ESG Fund, Inc., The Gabelli International Small Cap Fund, The Gabelli Healthcare & Wellness Rx Trust, The Gabelli Global Small and Mid Cap Value Trust, Gabelli Merger Plus+ Trust Plc, The Gabelli Global Financial Services Fund, The Gabelli Global Mini Mites Fund, The Gabelli Media Mogul Fund, The Gabelli Pet Parents Fund, The Gabelli U.S. Treasury Money Market Fund, Bancroft Fund Ltd. and Ellsworth Growth & Income Fund Ltd., Gabelli Growth Innovators ETF, Gabelli Love Our Planet & People ETF, Gabelli Automation ETF, Gabelli Commercial Aerospace & Defense ETF, Gabelli Financial Services Opportunities ETF (collectively, the Funds), which are registered investment companies. Gabelli Funds is also the investment adviser to The GAMCO International SICAV (sub-funds GAMCO Merger Arbitrage and GAMCO All Cap Value), a UCITS III vehicle. Teton Advisors, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The TETON Westwood Mighty Mitessm Fund, The TETON Convertible Securities Fund, The Teton Westwood Balanced Fund, and The TETON Westwood Equity Fund. The TETON Westwood Mighty Mites Fund and the Teton Convertible Securities Fund are subadvised by Gabelli Funds, and their holdings are included in this filing. Keeley-Teton, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The Teton Westwood Smallcap Equity Fund, The Keeley Small Cap Dividend Value Fund, The Keeley Small-Mid Cap Value Fund, and The Keeley Mid Cap Dividend Value Fund, as well as to institutional and individual clients. MJG Associates provides advisory services to private investment partnerships and offshore funds. Mario Gabelli is the sole shareholder, director and employee of MJG Associates. MJG Associates is the Investment Manager of Gabelli International Limited and Gabelli Fund, LDC. Mario J. Gabelli is the general partner of Gabelli Performance Partnership, LP. The Foundation is a private foundation. Mario Gabelli is the Chairman, a Trustee and the Investment Manager of the Foundation. Elisa M. Wilson is the President of the Foundation. LICT is a holding company with operating subsidiaries engaged primarily in the rural telephone industry. LICT actively pursues new business ventures and acquisitions. LICT makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is the Chief Executive Officer, a director, and substantial shareholder of LICT. CIBL is a holding company with interest in telecommunications operations, primarily in the rural telephone industry. CIBL actively pursues new business ventures and acquisitions. CIBL makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of CIBL. Mario Gabelli is the controlling stockholder, co-Chief Executive Officer and a director of GGCP and Chairman and Chief Executive Officer of GBL. He is the Executive Chairman of AC. Mario Gabelli is also a member of GGCP Holdings. Mario Gabelli is the controlling shareholder of MGH and indirectly of Teton Advisors and Keeley-Teton Advisors.
(d)	Not applicable.
(e)	Not applicable.
(f)	United States.
Item 4.	Purpose of Transaction
	The Reporting Persons file the long form Schedule 13D pursuant to Section 13d-1 of the Securities Exchange Act of 1934 (the "Act") even though they may be technically eligible to file the short form Schedule G. Because the Reporting Persons may regularly communicate with the Issuer's management, filing the Schedule 13D ensures that these conversations are compliant with the reporting obligations under the Exchange Act.
Item 5.	Interest in Securities of the Issuer
(a)	As a result of the completion of the merger with Hearst, the Reporting Persons no longer have beneficial ownership of any of the Issuer's shares.
(c)	Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth below: DATE SHARES PURCHASED PRICE /SOLD GABELLI & COMPANY INVESTMENT ADVISERS, INC. GABELLI ASSOCIATES FUND II 9/24/2025 -10,050 16.5000 GABELLI ASSOCIATES FUND 9/24/2025 -29,750 16.5000 GABELLI ASSOCIATES LIMITED II E 9/24/2025 -18,200 16.5000 GABELLI ASSOCIATES LIMITED 9/24/2025 -54,950 16.5000 GABELLI FUNDS, LLC GABELLI ABC FUND 9/24/2025 -37,200 16.5000 COMSTOCK CAPITAL VALUE FUND 9/24/2025 -3,000 16.5000 GABELLI MERCHANT PARTNERS PLC 9/24/2025 -8,150 16.5000 GAMCO MERGER ARBITRAGE UCITS 9/24/2025 -97,126 16.5000 GDL FUND 9/24/2025 -20,000 16.5000 GABELLI GLOBAL MINI MITES FUND 9/24/2025 -2,400 16.5000 GAMCO ASSET MANAGEMENT INC. 9/24/2025 -47,000 16.5000 TETON ADVISORS, INC. 9/24/2025 -10,500 16.5000 THE TRANSACTIONS ON 9/24/2025 ARE A RESULT OF THE COMPLETION OF THE MERGER BETWEEN THE ISSUER AND HEARST.
(e)	The Reporting Persons ceased to be beneficial owners of 5% or more of the Issuer's common stock on September 24, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

GAMCO INVESTORS, INC. ET AL

Signature:	PETER D. GOLDSTEIN
Name/Title:	GENERAL COUNSEL
Date:	09/29/2025

GABELLI FUNDS LLC

Signature:	DAVID GOLDMAN
Name/Title:	GENERAL COUNSEL
Date:	09/29/2025

GAMCO Asset Management Inc.

Signature:	DOUGLAS R. JAMIESON
Name/Title:	PRESIDENT
Date:	09/29/2025

GABELLI & Co INVESTMENT ADVISERS, INC.

Signature:	DOUGLAS R. JAMIESON
Name/Title:	PRESIDENT
Date:	09/29/2025

Teton Advisors, Inc.

Signature:	DAVID GOLDMAN
Name/Title:	COUNSEL
Date:	09/29/2025

GGCP, INC.

Signature:	DAVID GOLDMAN
Name/Title:	ATTORNEY-IN-FACT
Date:	09/29/2025

Associated Capital Group, Inc.

Signature:	PETER D. GOLDSTEIN
Name/Title:	CHIEF LEGAL OFFICER
Date:	09/29/2025

GABELLI MARIO J

Signature:	DAVID GOLDMAN
Name/Title:	ATTORNEY-IN-FACT
Date:	09/29/2025

FAQ

What did the Schedule 13D/A for DallasNews Corp (DALN) report?

The filing reports that Gabelli-related reporting persons no longer beneficially own any Series A common stock of DallasNews Corp following the completion of the merger with Hearst.

When did the Gabelli group cease to be a 5% or greater holder of DALN?

The filing states the Reporting Persons ceased to be beneficial owners of 5% or more of the issuer's common stock on September 24, 2025.

What transactions are disclosed in the filing?

The filing lists multiple dispositions executed on 9/24/2025 by various Gabelli funds and advisers at a price of $16.50 per share, with quantities shown for each fund.

Why was the long-form Schedule 13D filed instead of a short form?

The Reporting Persons state they filed the long-form Schedule 13D to ensure communications with the issuer's management remain compliant with reporting obligations, even if technically eligible for the short form.

Which Gabelli entities are named as Reporting Persons?

Named Reporting Persons include GGCP, GGCP Holdings, GAMCO Investors, Associated Capital Group, Gabelli Funds LLC, GAMCO Asset Management, Gabelli & Co Investment Advisers, Teton Advisors, Keeley-Teton, MJG Associates, Gabelli Foundation, LICT, CIBL and Mario J. Gabelli.